Terreno Realty Corporation (NYSE:TRNO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Terreno Realty Corporation (NYSE:TRNO) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $69.2143.

A number of brokerages have issued reports on TRNO. Raymond James Financial initiated coverage on shares of Terreno Realty in a research note on Wednesday, June 17th. They set an “underperform” rating for the company. Wells Fargo & Company dropped their price target on shares of Terreno Realty from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Scotiabank cut their price objective on Terreno Realty from $70.00 to $68.00 and set a “sector outperform” rating for the company in a report on Thursday, June 18th. Robert W. Baird set a $69.00 price objective on Terreno Realty in a research report on Friday, May 8th. Finally, KeyCorp restated an “overweight” rating on shares of Terreno Realty in a research note on Tuesday, June 23rd.

Terreno Realty Price Performance

NYSE TRNO opened at $71.00 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 17.36 and a beta of 1.05. The company has a 50 day simple moving average of $66.14 and a 200-day simple moving average of $64.20. Terreno Realty has a 52-week low of $53.00 and a 52-week high of $71.24.

Terreno Realty (NYSE:TRNO) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.36. The firm had revenue of $124.44 million for the quarter, compared to the consensus estimate of $122.60 million. Terreno Realty had a net margin of 86.44% and a return on equity of 10.35%. Equities research analysts predict that Terreno Realty will post 2.8 earnings per share for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, June 26th. Terreno Realty’s payout ratio is currently 50.86%.

Hedge Funds Weigh In On Terreno Realty

A number of hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Terreno Realty by 246.6% in the first quarter. Principal Financial Group Inc. now owns 4,188,453 shares of the real estate investment trust’s stock worth $257,257,000 after purchasing an additional 2,979,982 shares in the last quarter. Norges Bank acquired a new position in Terreno Realty during the fourth quarter worth $168,221,000. Janus Henderson Group PLC raised its holdings in Terreno Realty by 1,252.5% during the first quarter. Janus Henderson Group PLC now owns 642,749 shares of the real estate investment trust’s stock valued at $39,487,000 after buying an additional 595,225 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Terreno Realty by 529.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 407,497 shares of the real estate investment trust’s stock valued at $23,924,000 after buying an additional 342,740 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Terreno Realty by 108.1% in the third quarter. UBS Group AG now owns 599,894 shares of the real estate investment trust’s stock worth $34,044,000 after buying an additional 311,559 shares during the last quarter.

About Terreno Realty

Terreno Realty Corporation (NYSE: TRNO) is a real estate investment trust specializing in the acquisition, ownership and operation of industrial properties in key coastal markets across the United States. The company’s portfolio primarily consists of bulk distribution, warehouse and light-industrial assets that serve a diverse tenant base, including third-party logistics providers, e-commerce companies and manufacturers. Terreno aims to generate stable rental income while pursuing long-term capital appreciation through targeted investment and active asset management.

Terreno focuses on eight major coastal regions, emphasizing markets with strong supply-and-demand fundamentals and barriers to new development.